Francis James Oneill Sells 104,647 Shares of Accelerant (NYSE:ARX) Stock

Accelerant Holdings (NYSE:ARX) insider Francis James Oneill sold 104,647 shares of Accelerant stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $14.56, for a total transaction of $1,523,660.32. Following the completion of the transaction, the insider directly owned 6,522,125 shares in the company, valued at approximately $94,962,140. The trade was a 1.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Francis James Oneill also recently made the following trade(s):

• On Monday, July 27th, Francis James Oneill sold 110,467 shares of Accelerant stock. The shares were sold at an average price of $14.63, for a total transaction of $1,616,132.21.
• On Thursday, June 25th, Francis James Oneill sold 73,500 shares of Accelerant stock. The shares were sold at an average price of $13.06, for a total transaction of $959,910.00.
• On Tuesday, June 23rd, Francis James Oneill sold 76,464 shares of Accelerant stock. The stock was sold at an average price of $13.11, for a total value of $1,002,443.04.
• On Monday, June 22nd, Francis James Oneill sold 70,536 shares of Accelerant stock. The shares were sold at an average price of $13.21, for a total value of $931,780.56.

Accelerant Stock Down 9.8%

Accelerant stock opened at $11.19 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.61 and a quick ratio of 1.61. The stock has a market capitalization of $2.44 billion and a price-to-earnings ratio of -1.61. Accelerant Holdings has a 1-year low of $9.18 and a 1-year high of $30.48. The business has a fifty day moving average price of $13.88 and a 200-day moving average price of $13.29.

Accelerant (NYSE:ARX) last announced its earnings results on Wednesday, May 13th. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.01. Accelerant had a positive return on equity of 49.99% and a negative net margin of 135.47%.The company had revenue of $273.20 million for the quarter. The firm’s quarterly revenue was up 53.5% on a year-over-year basis. Equities research analysts forecast that Accelerant Holdings will post 0.73 EPS for the current fiscal year.

Analysts Set New Price Targets

ARX has been the subject of several research analyst reports. Citizens Jmp decreased their price objective on shares of Accelerant from $20.00 to $17.00 and set a “market outperform” rating for the company in a research report on Monday, April 13th. Weiss Ratings lowered shares of Accelerant from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, July 20th. Piper Sandler raised their price target on shares of Accelerant from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. UBS Group set a $16.00 price target on shares of Accelerant in a report on Thursday, May 21st. Finally, Raymond James Financial lifted their price objective on shares of Accelerant from $16.00 to $19.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.60.

Institutional Investors Weigh In On Accelerant

A number of institutional investors and hedge funds have recently modified their holdings of ARX. Alliancebernstein L.P. purchased a new stake in Accelerant in the third quarter valued at approximately $41,529,000. Vanguard Group Inc. purchased a new position in Accelerant during the 3rd quarter worth approximately $33,482,000. Balyasny Asset Management L.P. acquired a new stake in Accelerant during the 3rd quarter valued at approximately $30,060,000. Azora Capital LP lifted its stake in Accelerant by 288.9% during the 4th quarter. Azora Capital LP now owns 2,439,094 shares of the technology company’s stock valued at $39,879,000 after acquiring an additional 1,811,976 shares during the period. Finally, Millennium Management LLC purchased a new stake in shares of Accelerant in the 3rd quarter valued at $12,985,000.

About Accelerant

Aeroflex Holding Corp. (Aeroflex Holding) is a provider of radio frequency (RF) and microwave integrated circuits, components and systems used in the design, development and maintenance of wireless communication systems. The Company’s solutions include microelectronic components and test and measurement equipment used by companies in the space, avionics and defense; commercial wireless communications, and medical and other markets. Its products include a range of RF, microwave and millimeter wave microelectronic components, integrated circuits (ICs), and analog and mixed-signal devices.